When Radosław Sikorski, Poland’s foreign minister, went to Ukraine for talks last month, his Ukrainian counterparts reportedly laughed at him because he was wearing a Japanese quartz watch that cost only $165. A Ukrainian newspaper reported on the preferences of Ukrainian ministers, several of whom have watches that cost more than $30,000. Even a Communist member of Ukraine’s parliament, the Rada, was shown wearing a watch that retails for more than $6,000.

It is pretty sad when the 1 percent who own most of their economies are willing to spend (or accept -- in return for their political support) an amount of money that would feed a family of four comfortably for a month, or even a year.